Consumer Portfolio Services, Inc. (CPSS) is a specialized finance company that offers indirect automobile financing to consumers with past credit issues, low incomes, or limited credit histories. The company, based in Irvine, California, procures its contracts from both new and used automobile dealers, which originate the contracts at the point of sale. CPSS has been in the automobile financing business since 1991.
CPSS provides vehicle finance receivables portfolios to obtain capital through securitization and whole loan sales facilities. The company's operations mainly deal with the servicing of contracts, sale of contracts to investors, and establishment of portfolio benchmarks.
The business model of CPSS is unique as it caters to a critical segment of the automobile financing market. This clientele, often ignored by conventional lending institutions due to perceived risks, forms a sizable portion of the auto finance sector. CPSS's strategy relies on its ability to accurately risk-rate its clients through advanced analytics, thus effectively pricing its products to match the risk profile.
In terms of services, CPSS offers a plethora of options tailored to meet a wide array of financial needs and budgetary limitations. These include flexible payment terms, online payment options, a range of financial tools like loan calculators, and a dedicated customer service team ready to tackle any customer queries or complaints.
Despite being a financing company, CPSS places a strong emphasis on customer service, striving to ensure that their clients are not just borrowers, but fully informed and satisfied customers. This is achieved through their experienced and professional customer service, which is tasked with assisting clients comprehensively throughout their auto finance journey.
As a publicly-traded company listed on the NASDAQ exchange, CPSS demonstrates a commitment to transparency, compliance, and corporate governance. Financial reports are regularly published, ensuring that shareholders, investors, and potential partners have a clear view of the company's performance and financial health.
In conclusion, Consumer Portfolio Services, Inc. plays a significant role in the sub-prime auto finance sector, providing financing options for individuals who might otherwise struggle to secure an auto loan. Through its responsible lending practices, unique business model, and dedication to customer service, CPSS showcases an innovative approach to automobile financing.
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Wall Street Zen has upgraded Consumer Portfolio Services (CPSS) to a "Hold" rating, aligning with an earlier upgrade from Weiss Ratings. The stock opened at $9.34, down 3.1%, and currently holds an overall "Hold" rating from analysts. Recent insider selling of approximately 137,500 shares worth $1.3 million has occurred, while institutional ownership stands at 47.57%.
BlackRock Inc. has acquired a new stake in Consumer Portfolio Services, Inc. (NASDAQ:CPSS) worth approximately $6.30 million, purchasing 656,330 shares. Despite this new institutional investment, the company has seen insider selling, including a significant sale by CEO Charles E. Bradley Jr., and maintains a consensus "Sell" rating from analysts. Consumer Portfolio Services recently reported quarterly earnings of $0.27 per share on $57.14 million in revenue.
Empowered Funds LLC has acquired a new stake in Consumer Portfolio Services (NASDAQ:CPSS), purchasing 151,758 shares valued at approximately $1.46 million, giving them a 0.70% ownership. This move comes amidst negative analyst sentiment, including a "sell" rating from Weiss Ratings, and significant insider selling, with CEO Charles E. Bradley Jr. selling 125,000 shares. Institutional investors collectively own 47.57% of the company, which reported quarterly EPS of $0.27 on $57.14 million in revenue.
Consumer Portfolio Services (NASDAQ:CPSS) VP Noel Jackson sold 7,500 shares of the company's stock for $69,825. This transaction reduced his direct ownership by 50% to 7,500 shares. The company's stock fell 3.5% to $8.96, and analyst sentiment remains largely negative with an average "Sell" rating.
Consumer Portfolio Services (NASDAQ:CPSS) CEO Charles Bradley Jr. sold 125,000 shares of the company's stock for $1.18 million, reducing his direct holdings by nearly 3%. The credit services provider reported Q2 earnings of $0.27 per share on $57.14 million in revenue, while institutional investors own 47.57% of the company. Analysts currently have a "Hold" rating on CPSS stock.
Consumer Portfolio Services (CPSS) stock has moved above its 200-day moving average, trading at $9.16 with a 200-day average of $8.96. Analyst sentiment has seen modest improvement with "Hold" ratings from Weiss Ratings, Wall Street Zen, and MarketBeat. The company recently reported quarterly EPS of $0.27 on $57.14 million in revenue, while insiders sold 12,000 shares worth approximately $114,910 in the past 90 days.
Consumer Portfolio Services, Inc. (CPS) announced the closing of an $80.0 million securitization of residual interests from its previously issued securitizations. A qualified institutional buyer purchased $80.0 million of asset-backed notes with a 10.25% coupon, secured by residual interests in several CPS securitizations and an 80% interest in a majority-owned affiliate. The proceeds were used to repay a higher coupon residual interest financing from March 2024.